The CEO of FMG from Australia expressed its aspiration to establish strategic cooperation with Hunan Steelmaker, the Hualing Group in several areas, like low-class iron ore exploration and processing.

FMG is the third biggest iron ore provider in Australia at present as well as a crucial iron ore import source for Chinese steelmakers. On the other hand, China plays the role of the most critical market for Australian iron ore enterprises.

Affected by the global financial crisis, demand and prices for steel products are plummeting so that iron ore providers are hesitating to reduce output or accumulate un-salable stock. It is the perfect time not only for FMG but also for Hualing Group to consolidate both bodies’ advantages in order to pull through this challenging period.

In addition, Hunan Government promised to consider offering helpful services for them to reinforce this cooperation.